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12621 Ryewater Dr, Houston | Gerber Collision 12621 Ryewater Dr 16,900 SF Retail Building Houston, TX 77089 $6,837,000 ($404.56/SF) 5.35% Cap Rate
Investment Highlights
- 15-year absolute NNN corporate lease to a national auto collision tenant.
- Tenant covers all taxes, insurance, and maintenance, including roof, structure, and parking lot, providing a fully passive investment.
- 2% annual rental increases deliver steady growth throughout the life of the term.
- Gerber Collision & Glass has grown to one of the largest auto collision repair companies in North America and is part of the Boyd Group.
Executive Summary
This Gerber Collision & Glass property occupies a strategic infill location with direct frontage on Interstate 45, one of the region’s most heavily traveled highways, featuring traffic counts exceeding 206,000 vehicles per day. Gerber Collision & Glass is among North America’s largest auto collision and glass repair companies, operating more than 850 locations under the Boyd Group, Inc. (Toronto Stock Exchange: BYD.TO), ensuring reliable tenancy. The site is positioned less than 1.5 miles from San Jacinto College South, with approximately 7,300 students, and Memorial Hermann Southeast Hospital, a 293-bed facility employing over 2,200 people, creating a strong built-in customer base. Additionally, the property is located under two miles from Joint Reserve Base Ellington, a key military installation home to more than 2,700 personnel. The surrounding area offers an impressive demographic profile with 255,205 residents within a five-mile radius and an average annual household income of $114,016. Anchored by strong retail synergy, the location is surrounded by high-traffic retailers such as Walmart Supercenter, Sam’s Club, H-E-B, The Home Depot, Target, In-N-Out Burger, and Chick-fil-A. Featuring an absolute NNN lease, the property requires zero landlord management responsibilities, as all maintenance and expense obligations, including roof, structure, and parking lot, are transferred to the tenant. Market fundamentals remain robust, with projected income growth within one-, three-, and five-mile radii, positioning both the asset and Houston for continued upward momentum.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
16,900 SF
Building Class
B
Year Built
2006
Price
$6,837,000
Price Per SF
$404.56
Cap Rate
5.35%
NOI
$365,766
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
3.78 AC
Parking
110 Spaces
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1269960010001 | Improvements Assessment | $2,532,407 |
| Land Assessment | $1,442,845 | Total Assessment | $3,975,252 |
Property Taxes
Parcel Number
1269960010001
Land Assessment
$1,442,845
Improvements Assessment
$2,532,407
Total Assessment
$3,975,252
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12621 Ryewater Dr, Houston | Gerber Collision | 12621 Ryewater Dr
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